9th Aug 2021 17:25
San Leon Energy PLC - Dublin, Ireland-based oil & gas exploration company - Considers to make further investment in Energy Link Infrastructure (Malta) Ltd, which owns the alternative crude oil evacuation system project. The company originally invested USD15 million in Energy Link in August 2020. The investment comprised a 10% equity interest in Energy Link together with a USD15 million shareholder loan with a coupon of 14% per annum over four years, repayable quarterly following a one-year moratorium from the date of investment. The first repayment installment from Energy Link, which amounts to USD2.2 million, has recently become due. However, San Leon says it has agreed with Energy Link that, should further investments be made, then the first installment will be offset from any investment monies payable to Energy Link by San Leon under certain of these new arrangements.
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By Evelina Grecenko; [email protected]
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